Deposit help for buyers in Spennymoor

Saving for a deposit is one of the biggest hurdles facing people ready to buy a new home, but a scheme from house builder George Wimpey at its Spennymoor development may provide the perfect solution.

With Deposit Match, George Wimpey will match the deposit put down by the buyer, up to 10 per cent of the property’s value. With a larger deposit, buyers are able to access a wider range of mortgages with more competitive interest rates, leading to reduced monthly payments.

Gemma Henderson has just purchased her first home, at George Wimpey’s Fairfield Park in Murton. She used Deposit Match. She says: “With the current financial climate, Deposit Match was a great chance for us to get the house that we wanted. Without this scheme I would still be saving up for a deposit, or living somewhere not nearly as nice. I hadn’t noticed anyone else doing this kind of deal and it was just by chance that we noticed it when we were househunting on a lunch break, but without Deposit Match we definitely would not have been able to buy this house.”

Jackie McKeown, sales manager for Moorcroft, said: “We understand that difficulty in saving up a deposit is stopping many people who are otherwise ready to buy a new home. Deposit Match goes a long way to address this issue.

“Boosting deposits through an interest free loan is a great way to increase the number of mortgage deals available and to reduce monthly repayments. We believe that this scheme could make all the difference in enabling buyers to afford a new home.”

Purchasers are guided through the process by George Wimpey’s appointed independent financial advisors and solicitors.

Deposit Match is available on selected properties at Moorcroft in Middlestone Moor. Currently available is a selection of four bedroom detached properties, with prices starting at £225,000.

Moorcroft is situated on Grayson Road, Middlestone Moor in Spennymoor. The small town of Spennymoor is the perfect location for a family development, benefiting from an excellent range of local amenities and schools. The historical city of Durham is also only a short drive away, providing a further wealth of shopping and leisure facilities.

Moorcroft is also perfectly placed for transport, providing commuters easy access to the A688, A177, A181 and A1.

For more information call into the sales information centre on Grayson Road, which is Thursday to Monday, between 10am and 5.30pm. Details can also be found on georgewimpey.co.uk.